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Cabinet supports FSC

Published:Tuesday | January 8, 2008 | 3:24 PM

Cabinet has supported the Financial Services Commission (FSC) in its drive to regulate unregistered financial schemes.

Minister without portfolio in the Finance Ministry, Don Wehby, said the FSC would continue to take action prescribed by law, to prevent entities from offering securities in breach of the Securities Act.

According to Mr. Wehby, the FSC will continue to issue cease and desist orders against unregistered entities.

He said the Financial Investigation Division (FID) would provide support by prosecuting entities, which are in breach of the regulations.